Alienation of real estate owned by legal entities and natural persons from "unfriendly" states
In connection with frequently received questions regarding alienation of real estate owned by legal entities and natural persons from "unfriendly" states, we share the commentary of Aliaksandr Antonau - Head of Infrastructure Projects Practice of REVERA Belarus.
Question
Is it necessary to pay a contribution of not less than 25% of the market value of real estate, in case of its sale by such persons?
Commentary by A. Antonau
"Regardless of whether the real estate belongs to a foreign legal entity or a natural person, such property may be sold without payment of a contribution.
This is due to the fact that Decree No. 93, which introduced the need to pay the contribution, clearly defines the cases when it must be done.
In particular, it refers exclusively to the sale of property belonging to a Belarusian legal entity whose property is owned by, or whose participants include persons from foreign "unfriendly" states.
In this regard, if real estate is directly owned by a foreign legal entity or natural person (including, for example, if it has not been transferred to the management of a Belarusian unitary enterprise), it may be sold in accordance with the general procedure, i.e. without paying a contribution".
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